Don't sign over your Deed to your home!

During the changing times of real estate at the moment there are a variety of people who come out of the wood work in order not help but take advantage of home owners when they are behind on their payments. I thought it would be good to go over a few tricks that these people use and some of their pitches so home owners that are considering a short sale or are facing foreclosure can be aware of.

Now these individuals or companies come with a variety of pitches to make it sound like you are a winner on the deal and that you will avoid foreclosure or not have to go through a short sale if you just sign the deed over to them. Below are some of the best pitches that I have heard and please we caution people not to listen to these people and contact a real estate professional or a lawyer prior to signing anything that releases your rights to your property.

1. "Sign your deed over to me so I can negotiate with the bank and you won't have to worry about anything" - once you sign over the deed you no longer control what happens with your property. You are still on the hook for the loan you just can't do anything with your home.
2. "The deed won't be worth anything if you go to foreclosure it is just a piece of paper." - It is a piece of paper that says you own the home and the bank has lent you money based on that home. Once you sign it over the person can even evict you from your own home.
3. "Sign it over to me and I will let you pay half the amount you are paying now so you can stay in your home." - You have literally no guarantee that they will do this. They have no obligation and can say whatever they want. If someone states this ask them to put the funds for the next 6 months in an escrow account with an escrow company you choose and have a contract written up to state where the money will be sent. If the don't like this they probably aren't telling the truth.

Please remember that if someone makes you an offer that sounds to good to be true it probably is. The best thing you can do if you are facing foreclosure or want to consider a short sale is contact a real estate professional or a lawyer in regards to these issues.